Dodge Challenger Forum banner

1 - 20 of 71 Posts

·
Registered
Joined
·
14 Posts
Discussion Starter #1
Hello everyone, new to the forum but I've been lurking for sometime now. I’ve been looking for an SRT since the spring of 2017 but couldn’t find the vehicle in my spec, and at a fair deal until now. Most dealers were quoting me $600+/month with $2-3k down.

I was blown away and couldn’t turn this down especially on a factory order. The dealer was able to sell the car “at cost”, which is a discount of $1,188.

Challenger SRT: $48,376
Options:
Automatic Transmission: $1,335
Brass Monkey SRT Wheels: $886
Twin Center Stripes: $530
Go Mango Exterior Paint
Sepia Laguna Leather
Destination Fee: $1,345
8 Gallons of Gas: $20

Total Price: $52,492
Negotiated Price: $52,000
Incentives: $8,000
Selling Price: $44,000
Residual: 66%
Money Factor- .00291
36/Month
10k Miles

Cash Down of $1,500 (Applied Towards Fees + 1st Month)

$472/Month + Tax (6.25%)

I know the MF is marked up significantly, but the $8,000 in incentives was a nice offset. I am also aware that the above numbers may look different when the car is delivered in 4 to 6 weeks. Hopefully in my favor.

Looking forward to sharing pictures.

NOTE: This is leasing through Ally Financial. If leased through Chrysler Financial it actually made this deal balloon to $560/month.
 

·
Registered
2018 SRT 392
Joined
·
232 Posts
I have a question how are you getting $8,000 incentives on a 2018 SRT ? I am getting ready to order 2018 SRT mine stickers for $52,685 with options.My employee price is $48,987.Less $1,000 Rebate puts it at $47,987.That is only $4,698 in total incentives.Just curious? If your dealer is really going give you $8,000 incentives I would run to sign the paperwork.
 

·
Registered
Joined
·
14 Posts
Discussion Starter #3
The $8,000 is from Ally Financial according to the sales manager. Again, I was blown away and immediately signed.
 

·
Registered
Joined
·
387 Posts
Ally is a great place for a loan. I leased a 2012 SXT and did a few mods ( I knew I would never get that $ back but I enjoyed it while I had it.) when the lease was up I purchased a 2015 R/T. I received a letter saying that I owed @$1000 for new tires but they were putting the car up for auction and they would deduct the tire money from any profit earned above the pay off price. Well, it must have sold well above the pay off price because my next letter said that I wouldn't need to pay the $1000 and they included a check for $2500!
 

·
Registered
Joined
·
263 Posts
I ended up buying mine for $43k + tax and reg which came out to around $53k. If you look hard, you can get a deal. I got $10k off the sticker on my 16 SRT.
 

·
Premium Member
Joined
·
9,147 Posts
All this money to RENT a car? At the end you have zero, $2000-3000 down, in this price category you need to put $10,000 minimum,$25,000 is more realistic.
Just my opinion.
 

·
Registered
Joined
·
1,345 Posts
When I read this I thought it was to BUY the car. I thought it sounded reasonable. For a lease! Screw that !:frown:
 

·
Registered
2018 SRT 392
Joined
·
232 Posts
All this money to RENT a car? At the end you have zero, $2000-3000 down, in this price category you need to put $10,000 minimum,$25,000 is more realistic.
Just my opinion.
One more reason the wife and I chose to purchase verses lease.To each his/her own I guess.Saved our pennies the last 2 years to put down $32,000 on our new 2018 SRT.:grin2:
 

·
Premium Member
Joined
·
9,147 Posts
One more reason the wife and I chose to purchase verses lease.To each his/her own I guess.Saved our pennies the last 2 years to put down $32,000 on our new 2018 SRT.:grin2:
Is this going to be a weekend only car?
 

·
Registered
Joined
·
27 Posts
One more reason the wife and I chose to purchase verses lease.To each his/her own I guess.Saved our pennies the last 2 years to put down $32,000 on our new 2018 SRT.:grin2:
I would have put down that $32,000 to buy a rental property for an investment to receive rental income every month. I would never put that type of money down for a $52,000 vehicle that depreciates and that will show rust on it after 10 years of driving it all year round and in the winter in the snow and salt. Bad investment and dumb decision.
 

·
Registered
Joined
·
49 Posts
I would have put down that $32,000 to buy a rental property for an investment to receive rental income every month. I would never put that type of money down for a $52,000 vehicle that depreciates and that will show rust on it after 10 years of driving it all year round and in the winter in the snow and salt. Bad investment and dumb decision.
"Man who posts on car enthusiast forum expects financial investment and contributing to the inability of anyone under 50 to own a home anymore instead of buying said car" :nerd:
 

·
Registered
Joined
·
291 Posts
Silly people knocking leasing. You are not renting a car. You are driving it for just about as long as your average person buying a car, but you are not ass up at the end. Oh and you are likely hundreds of dollars a month cheaper too.

Lets say you buy one for $700 a month for 72. And at the three year mark you want to trade out. You are going to be in a very bad spot. But on the lease, you leave the key and walk away free. This is assuming you dont run over on your allotted miles. Thats not hard to keep in check especially on cars like these. And at the end IF you want to own the car, you can either buy out the lease or buy another new one. The point is you have options you wouldnt have on a buy. And lets be real, if you have a loan on the car you dont own it either. So lets not get too critical on leasing. And yes its not for eveyone and every car. The Challengers have awesome residuals compared to other brands of cars. Like with BMW. Their leasing is garbage.

I have done all of the above. Bought new, leased new and bought used. This last car (17 scat A8), I bought used. Stole it for less than a new base scat. And I never had to take the loss on the initial drive off. But now Im dealing with used car issues. Like trying to figure out when the oil was changed last and that its a ***** to get all the mopar owners and Sirius guardian stuff transferred over to me.

Anyway, you are not renting a leased car. Not anymore than you are renting a financed car...
 

·
Registered
Joined
·
14 Posts
Discussion Starter #18
All this money to RENT a car? At the end you have zero, $2000-3000 down, in this price category you need to put $10,000 minimum,$25,000 is more realistic.
Just my opinion.
I own a side business apart from my regular job and leasing works wonderful for me! I get to fully deduct the monthly payments, gas, insurance, and maintenance cost. People who own a business would understand this. If I purchased the car I would actually be losing money as I wouldn't be able to invest the capital somewhere else!
 

·
Registered
Joined
·
14 Posts
Discussion Starter #19
Silly people knocking leasing. You are not renting a car. You are driving it for just about as long as your average person buying a car, but you are not ass up at the end. Oh and you are likely hundreds of dollars a month cheaper too.

Lets say you buy one for $700 a month for 72. And at the three year mark you want to trade out. You are going to be in a very bad spot. But on the lease, you leave the key and walk away free. This is assuming you dont run over on your allotted miles. Thats not hard to keep in check especially on cars like these. And at the end IF you want to own the car, you can either buy out the lease or buy another new one. The point is you have options you wouldnt have on a buy. And lets be real, if you have a loan on the car you dont own it either. So lets not get too critical on leasing. And yes its not for eveyone and every car. The Challengers have awesome residuals compared to other brands of cars. Like with BMW. Their leasing is garbage.

I have done all of the above. Bought new, leased new and bought used. This last car (17 scat A8), I bought used. Stole it for less than a new base scat. And I never had to take the loss on the initial drive off. But now Im dealing with used car issues. Like trying to figure out when the oil was changed last and that its a ***** to get all the mopar owners and Sirius guardian stuff transferred over to me.

Anyway, you are not renting a leased car. Not anymore than you are renting a financed car...
You worded this perfectly for me! Thank you!
 

·
Registered
Joined
·
14 Posts
Discussion Starter #20 (Edited)
One more reason the wife and I chose to purchase verses lease.To each his/her own I guess.Saved our pennies the last 2 years to put down $32,000 on our new 2018 SRT.:grin2:
You're essentially losing $32k slowly as you're money is now being held hostage in a depreciating asset. Terrible decision.
 
1 - 20 of 71 Posts
Top